Balance sheet of MINDA INDUSTRIES LTD ---------in Rs (Cr)--------

Particulars Mar 2019 Mar 2018 Mar 2017

EQUITIES AND
LIABILITIES
SHAREHOLDERS FUNDS
Equity share capital 52.44 17.41 15.87
Preference share capital 0.00 0.00 0.00
Total Share Capital 52.44 17.41 15.87
Reserves & surplus 1045.51 952.49 512.45
Total Shareholders Fund 1097.95 969.90 528.32
Equity share application 0.00 0.00 300
money
Non- Current Liabilities
Long term borrowings 276.40 21.65 31.43
Deffered tax liabilities(Net) 0.00 0.00 0.00
Other long term liabilities 11.86 12.68 12.12
Long term provisions 37.29 34.80 30.50
Total Non- Current 325.55 69.13 74.05
liabilities
Current Liabilities
Short term borrowings 88.52 58.73 139.33
Trade payables 337.02 325.37 238.46
Other current liabilities 103.33 66.79 57.12
Short term provisions 5.65 6.25 4.40
Total Current Liabilities 534.52 457.14 439.31
Total Capital & Liabilities 1958.02 1496.17 1341.68
ASSETS
Non- Current Assets
Tangible assets 418.54 267.83 260.29
Intangible assets 33.04 11.96 4.52
Capital work in progress 11.84 31.00 10.56
Intangible assets under 0.00 6.09 0.00
development
Fixed Assets 463.42 316.88 275.37
Non- current investments 843.07 604.40 356.75
Deferred Tax Assets(Net) 6.80 6.14 5.53
Long term loans & advances 10.05 8.33 7.34
Other Non- current assets 74.06 61.10 10.91
Total Non-current assets 1397.40 996.85 656.30
Current Assets
Inventories 144.30 111.15 87.60
Trade Receivables 353.79 335.98 241.47
Cash &Cash Equivalence 22.39 14.75 318.96
Short term loans and 0.27 0.35 0.37
advances
Other current assets 39.87 37.09 36.98
Total current assets 560.62 499.32 685.38
Total Assets 1958.02 1496.17 1341.68
Profit & Loss account of MINDA INDUSTRIES -----------in Rs. Cr.----------

Mar 19 Mar18 Mar17

INCOME
Revenue from 2063.73 1881.85 1786.52
operations(Gross)
Less: excise duty 0.00 46.72 165.66
Revenue from 2063.73 1835.13 1620.86
operations(Net)
Other operating revenues 35.97 21.95 18.43
Total Operating Revenues 2099.70 1857.08 1639.29
Other Income 47.02 38.39 24.810
Total revenue 2146.72 1895.47 1664.10

EXPENSES
Cost of materials consumed 1347.69 1178.32 1053.78
Purchase of stock in trade 0.00 0.00 0.20
Changes in inventories of -7.23 -9.06 1.78
FG, WIP & Stock in trade.
Employee benefit expenses 284.67 254.23 216.41
Finance costs 15.05 6.82 14.00
Depreciation & Amortisation 59.75 52.52 51.12
expenses
Other expenses 259.46 242.55 208.55
Total expenses 1959.39 1725.38 1545.84
Profit/loss before 187.33 170.09 118.26
extraordinary items and
Tax
Exceptional items 0.00 5.49 0.00
Profit/Loss before Tax 187.33 175.58 118.26
Tax expenses continued
operations
Current tax 39.78 4074 26.61
Less: Mat credit entitlement 0.00 0.00 0.00
Deferred Tax 3.35 -0.99 -2.31
Total Tax expenses 43.13 39.75 24.30
Profit/Loss after tax and 144.20 135.83 93.96
before extraordinary items
Profit/loss from continuing 144.20 135.83 93.96
operations
Profit/Loss from 1.10 0.00 0.00
discontinuing operations
Net Profit/loss from 1.10 0.00 0.00
discontinuing operations
Profit/loss for the period 145.30 135.83 93.96
What is the Altman Z Score?
Altman Z score is a type of Z score, which was published by Edward I. Altman in
1968 as a Z score formula, used to predict the chances of bankruptcy. This
methodology can be used to predict the chance of a business organization to move
into bankruptcy within a given time, which is mostly about 2 years.

This method is successful in predicting the status of financial distress in any firm.
Altman Z score can help in measuring the financial health of a business organization
by the use of multiple balance sheet values and corporate income.
It is proven to be very accurate to forecast bankruptcy in a wide variety of
contexts and markets. Studies show that the model has 72% – 80% reliability of
predicting bankruptcy.

Altman Z Score Formula

Below is the Formula of Altman Z Score. It is basically designed for publicly held
manufacturing firms with values of more than $ 1 million of net worth.

The 5 financial ratios used in the calculation of this Altman Z score formula are as
follows:

Z-Score = 1.2A + 1.4B + 3.3C + 0.6D + 1.0E

Where:

A = working capital / total assets

B = retained earnings / total assets

C = earnings before interest and tax / total assets

D = market value of equity / total liabilities

E = sales / total assets

NYU Stern Finance Professor Edward Altman developed the Altman Z-score formula
in 1967, and it was published in 1968. In 2012, he released an updated version called
the Altman Z-score Plus that one can use to evaluate public and private companies,
manufacturing and non-manufacturing companies, and U.S. and non-U.S. companies.
One can use Altman Z-score Plus to evaluate corporate credit risk.
 In this model, if the Z value is greater than 2.99, then the firm is said to be in
the “safe zone” and has a negligible probability of filing bankruptcy.
 If the Z value is between 2.99 and 1.81, then the firm is said to be in the “grey
zone” and has a moderate probability for bankruptcy.
 And finally, if the Z value is below 1.81, then it is said to be in the “distress
zone” and has a very high probability of reaching the stage of bankruptcy.